Final investment decision on the project of floating liquefied natural gas (LNG) terminal in Alexandroupoli in northern Greece are expected in the last quarter of the year.
Two pending issues, the completion of a regulatory framework for the project, as well as approval by the European Commission’s Directorate-General for Competition of the project and funding via the National Strategic Reference Framework (NSRF) 2014-2020, are expected to be resolved by the fourth quarter of 2020.
Also, the Regulatory Authority for Energy (RAE) is expected to reach a preliminary decision exempting the floating terminal from compulsory access to third parties as well as tariff adjustments every three to four years. This decision, needed for the project’s regulatory framework, is expected by late October or early November, when the European Commission’s approval is anticipated, which also has to approve the NSRF funding.
Once these pending issues are all resolved, investors will be able to decide on the project’s development, expected to require two years to be built, with the launch of LNG terminal expected in 2023. Earlier this week, Bulgarian natural gas transmission system operator Bulgartransgaz has completed the acquisition of 20 % stake in the project. The consortium for the construction of the terminal should comprise of Gastrade (40%), Gaslog (20%), Greek Public Gas Corporation DEPA (20%), now through DEPA Trade, and Bulgarian Energy Holding BEH (20%) through Bulgartransgaz.
